Informative.
Normally, but most of these have probably never been driven
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I remember it in news before covid19 swept us, it got surprisingly little fanfare, there were fucked before the virus arrived. I’m amazed with Hertz car hire debts - 19 billion or something.
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Was he the lad that died and came back to life again in Dallas?
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That was Patrick Duffy. He played Bobby Ewing.
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Ah Fagan!!!
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Let people go weeks ago
Sure who can afford a huge car these days?
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Businesses spending a lot of capital to hire out are in big trouble now.
You’re probably too young to remember but up to the early/mid 90s, Hertz had more or ,less monopolized the car rental market globally. It was very much like the airline business. Yanks could pay a grand to rent a car here for a few days. Then it opened up and you had the Ryan Air types enter the market
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There’s a high barrier for entry, you’d want serious cash to start up. It’s only a pretend bankruptcy like they do in the states anyway, buy them time so they don’t have to pay their loans for a few months
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They were fairly pricey. They all are actually.
Savage
It’s not a great business model. I’d say the margins are wafer thin. Seems to have to be constantly new cars. Say it’s €30k to buy it and it loses its value by 20% in the first year (minimum for a rental car you’d think, probably more like 40%). So that’s €6k in value lost so you’ve to rent the car out every day for the year for €16 just to make back the loss in value of the car. That’s before any overheads, damages, days it’s not rented etc.
Now I’d imagine if you were buying in bulk off the car manufacturers you’d get a nice discount in the first place, but even still, tough to make money and these days a lot of competition, so you can’t change your prices
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Most of the cars are bought with an agreed sell price after 6-9 months. It’s a constant cycle.
It’s lasted 100 years mate , has 40000 employees, 10000 branches yet you think it’s not a great business model?
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It’s bankrupt, you think it’s a good model?
Have you heard about covid 19?
I did mate. It hasn’t closed every company in the World, but it has caught out a few who were swimming naked.
I’m sorry you lost your job on the rental desk in the airport.
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It’s closed a lot